Schlumberger Limited $SLB Shares Sold by TD Private Client Wealth LLC

Key Points

• TD Private Client Wealth LLC reduced its stake in Schlumberger Limited by 42.3%, holding 18,312 shares worth $619,000 after selling 13,431 shares in the second quarter.
• Schlumberger's recent quarterly earnings showed $0.74 earnings per share, surpassing analysts' estimates, although revenue decreased by 6.5% year-over-year.
• The company announced a quarterly dividend of $0.285, translating to an annualized dividend of $1.14 with a yield of 3.2%, payable on October 9th.

TD Private Client Wealth LLC lessened its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 42.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,312 shares of the oil and gas company's stock after selling 13,431 shares during the period. TD Private Client Wealth LLC's holdings in Schlumberger were worth $619,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Schlumberger by 478.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock worth $1,994,674,000 after acquiring an additional 39,474,501 shares during the last quarter. Boston Partners lifted its stake in shares of Schlumberger by 27.7% in the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock worth $824,160,000 after buying an additional 4,300,222 shares in the last quarter. Northern Trust Corp boosted its position in Schlumberger by 4.4% during the first quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company's stock worth $602,860,000 after acquiring an additional 604,832 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Schlumberger by 22.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company's stock valued at $375,738,000 after acquiring an additional 1,667,203 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Schlumberger by 3.8% in the 1st quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company's stock valued at $320,154,000 after acquiring an additional 281,937 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Schlumberger

In related news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider owned 202,201 shares of the company's stock, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.22% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SLB shares. Jefferies Financial Group lowered their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. UBS Group lowered their price objective on Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. JPMorgan Chase & Co. dropped their target price on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a report on Monday, June 30th. Barclays cut their target price on Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Finally, Melius initiated coverage on shares of Schlumberger in a research report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $52.18.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $35.51 on Friday. The firm has a market cap of $53.04 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 9.86 and a beta of 1.05. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $46.15. The business's fifty day simple moving average is $34.65 and its 200-day simple moving average is $35.36.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The firm had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. During the same period last year, the company earned $0.85 EPS. The company's quarterly revenue was down 6.5% on a year-over-year basis. Equities analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's payout ratio is 39.04%.

Schlumberger Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.

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